Updates on Outcome of Board Meeting
With reference to the earlier letter dated December 14, 2013 regarding the Board at its meeting held on December 14, 2013 had approved the raising of Bank's equity share of face value of Rs. 10/- with premium on preferential basis and or QIP basis up to Rs. 350 crore, Indian Overseas Bank has now informed BSE that raising of an amount of Rs. 350 crore will be either by way of preferential allotment basis and or Qualified Institutional Buyers basis...16-12-2013